ComFin Software was Gold Sponsor of the Oil Trading Risks Middle East & Africa 2015 Summit on 2nd and 3rd June 2015 that took place in Dubai, UAE. This event provided an ideal platform for oil trading professionals and CTRM vendors eager to learn more about how to mitigate risk in the current market.
This event provided a senior-level platform which thoroughly covered the current downstream challenges and risks faced by oil trading companies. ComFin’s delegates at the event joined discussions with oil trading companies who are now trying to instil the importance of efficient risk management into their employees. It has become evident that a healthy “risk culture” in organizations is now becoming increasingly critical – something that ComFin Software has been working on for quite some time with the creation of its fully functional risk modules.
The summit covered all critical risk management areas. Emphasis was also put on the importance of having effective E/CTRM systems in place so as to best manage all these risk-related challenges, including discussions on how to best optimize CTRM systems and the challenges behind a successful implementation of CTRM systems.
ComFin’s Head of Software Development Michael Thell joined the expert line-up in a discussion panel to share his expertise with professionals from key oil trading companies. The topics discussed included the common mistakes made during the ETRM selection and implementation process, as well as the possibility of in-house development vs. outsourcing. Michael stressed the business-critical importance of initial analysis and fluid communication among all parties involved so as to avoid misinterpretations, falce expectations and most of all unexpected costs at a later stage. He also explained how off-the-shelf products from established ETRM vendors can help companies adopt certain business standards, effectively improving their business processes and as a result increasing their profits.